No service charge on debit card usage, 82,000 ATMs re-calibrated:Shaktikant Das

23 November, New Delhi

In order to reduce the hardship being faced by the people due to demonetisation, Economic Affairs Secretary Shaktikant Das Wednesday announced that no service charges would be levied on the debit card usage, except by a few public and private banks.

Meanwhile, as many as 82,000 ATMs have been re-calibrated and the rest of them would be re-calibrated in coming days, Das said.

“To facilitate the people during the move of demonetisation, the public sector undertakings and some private sector banks have agreed to waive off service charges on use of debit cards till December 31,” said the Economic Affairs Secretary.

Das said, “the Railways would also waive service charges on e-ticket booking till December 31,” adding, “all digital transactions through feature phones would not be levied service charges till December 31 and the e-Wallet limit has been increased from Rs 10,000 to Rs 20,000 for individuals.”

To mitigate farmers’ distress due to the demonetisation move, the Economic Affairs Secretary announced that the National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 21,000-crore to the District Central Co-operative Banks (DCCBs). Almost 40 percent of small and marginal farmers get their institutional agriculture credit from the cooperative institutions, said Das.
“In this regard, Reserve Bank of India and NABARD have been directed to ensure that there should be adequate cash supply available to the DCCBs,” Das added.

Das further said, “The Ministry of Road Transport and Highways is advising the vehicle manufacturers that new vehicles be provided with Electronic Toll Collection (ETC) compliant RFID facility to enable digital payment at toll plazas and check posts to reduce waiting time there.”